Tag Archives: Agents E&O

Consent to settle clause – is it getting a bad rap?

Do you know what the consent to settle clause in an E&O policy is commonly referred to? The Hammer clause. The hammer that when the agency does not want to agree to what the E&O carrier believes they can settle … Continue reading

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Carriers will sue their agents?

The answer is yes. They will and actually this has been a part of the E&O world for many years. Recently, I was reviewing E&O policies from a number of carriers. I am always looking to see what coverages are … Continue reading

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Documentation needs to be handled promptly

For as long as the concept of E&O has been around, one of the key phrases has been “Document, Document, Document”. This is so for good reason. The degree of documentation is one of the main drivers that can either … Continue reading

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Keys (from an E&O standpoint) in the development of the agency website

How do most agency websites get developed? Typically, the agency contracts with a marketing firm to build a website that is very impressive and says a lot of great things about the agency and the type of business the agency … Continue reading

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How are you keeping the staff focused on E&O ?

The development of a solid E&O culture is definitely not something that you mention once and expect the staff to abide by whatever they were told. To develop a solid E&O culture requires a continuous message to the staff. How … Continue reading

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Do your branch offices have the proper E&O culture ?

Remember this old game – tell something to the first person in line and ask that they tell the next person what they were told and have that person tell the next one, etc. Invariably, when you ask the 10th … Continue reading

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Unmarried couples living in the same household – a potential E&O issue?

Today, this is quite possibly much more of an exposure than in recent years – couples that have decided to “live together” without getting married. If the homeowners’ insurance was not modified, would there be coverage for the additional person … Continue reading

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1 in 10 homeowners have this exposure – is it properly insured?

The most recent statistics lists 9.4% of households rent a storage unit and this percentage does not include how many of those actually rent more than one unit and short term renters that rent a unit for a month or … Continue reading

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“Stated value” vs “Agreed Value” – aren’t they the same?

No, they are not. Which one is better? Let’s take a look… Here is the traditional definition of “Stated Value”: “In the event of a total loss we will pay the Stated Value or the Actual Cash Value, whichever is … Continue reading

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Is coverage for watercraft sufficient under a HO policy?

Now that it looks like winter is over and we are going right to summer, you might have some clients looking to put their boats in the water for some fun and relaxation. When insuring watercraft, there are typically a … Continue reading

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